In January 2022, the price of an average home in BC reached new heights – $1.042 million. That was up from the previous year by 23.5%!
So, now that the average homeowner in BC is a millionaire, let’s take a look at what you can get for that budget across the province.
Of course, these are the listing prices and not what the homes are actually going for. When you’re up against 20 other buyers and some of them have cash in hand, the actual selling price could be much higher.
Here’s what you could, in theory, get for less than $1.04 million, the average price of a house in BC:
Homes for less than $1M in Vancouver
Yes, you can still buy a detached home for less than a million in Vancouver. The catch is that these properties are actually on leased land, so you’ll have to pay an annual lease to live here.
8 Sennok Crescent – $998,000
8 Halss Crescent, Vancouver – $948,000
Homes for less than $1M in the Lower Mainland
Just outside of Vancouver proper, there are tons of listings that hover just under $1 million. Expect to find smaller, older homes that haven’t been updated in a while. Still, the chance to get property in Metro Vancouver for less than $1 million is very attractive for buyers who’ve been waiting for their chance to enter the market.
11377 Glen Avon Drive, Surrey – $999,233
2739 Davies Avenue, Port Coquitlam – $988,000
21137 Wicklund Avenue, Maple Ridge – $998,000
10051 Merritt Drive, Chilliwack – $900,000
32742 Badger Avenue, Mission – $998,900
Homes for less than $1M on Vancouver Island
Your mortgage dollars go a lot further just a ferry ride away on Vancouver Island. From Victoria to smaller cities nearby, you can get a nice, recently built detached home for less than $1 million.
565 Pioneer Crescent, Parksville – $987,000
5061 Grouhel Road, Ladysmith – $950,000
4093 Canterbury Way, Courtenay – $975,000
8 Governors Point Road, Victoria – $949,000
177 Evergreen Road, Campbell River – $949,000
Homes for less than $1M in BC
If you’re headed to other cities in the province, you can practically double the number of bedrooms you get for your money — a good option for families and people who want more room to roam.
665 Cook Road 421, Kelowna – $920,000
3029 Creighton Valley Road, Cherryville – $999,000